COVID Variant news on Black Friday
Complete with the obligatory picture of a dazed, confused and bemused trader above the media are serving a post-Thanksgiving side dish of COVID Variant; a nasty mutant apparently originating from a single patient in South Africa who incubated (hosted) the thing until it could ‘evolve’.
Dow futures drop more than 700 points on fears of new Covid variant found in South Africa
Gold is ramping, as are the usual suspect ‘stay at home’ stocks and wouldn’t you know, this is the stuff that has been way on the outs as the pro-cyclical stuff has ramped of late.
Gold: As you may know I have a very bullish view of gold on its big picture, most likely activating for all to see sometime in 2022. But today it and silver are holding short-term pullback areas that would have needed to hold to keep their short-term situations constructive.
‘Stay at home’: We had an NFTRH+ update last week on bombed out tax loss candidates, including several stay-at-homers. If this holiday week burst of COVID anxiety turns out to be a precursor to something real, even for the intermediate-term, then the combination of tax loss selling season and the COVID hype could pack a wallop.
If you’ve read me over the years you may know that I don’t like these robotic, upward trending markets where all is well and we’re all nice and comfy for months on end, like content little froggies in a pot. I like markets in motion, whether positively, negatively or better yet a combination of both, because that is when you get to distinguish yourself from the various perma-bulls, perma-bears and perma-dogmatists out there.
So for a day at least, for a holiday shortened day we are in motion. 2020 was a glorious year. Pardon my insensitivity about COVID, but these are the financial markets and this is a financial market website (and premium service) and today we have an echo. It will be interesting to see – and adjust to – the transition to whatever 2022 holds in store for us.
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